Zinc One announced today that the Peruvian Ministry of Energy and Mines (“MEM”) has approved the permit of 124 drill platforms for the Bongará Zinc Mine Project in Peru. Drilling is expected to build up the resource base, with drills turning early in January 2018. Results from the drill program will be used towards a preliminary economic assessment (“PEA”) as this one travels down the development path towards production. A Map and other information can be found on the Zinc One website at http://ift.tt/2j0FkHX.
Bongara Zinc One Drill Platform LocationsJames Walchuck, Zinc One President and CEO stated, “This is one of the most important milestones we have reached thus far. This permit will allow the Company to drill the areas of known mineralization in the Mina Grande, Mina Chica, and Bongarita sectors and, in conjunction with the results from the ongoing surface and pit sampling, allow us to complete a resource estimate that a PEA can be based on. We are confident that we will be able to confirm the historic resource – 1Mt of 21.6% Measured and Indicated and 0.21Mt of 21.2% Inferred. This is especially significant since the Mina Chica and Bongarita sectors have never been drilled and we believe that our drill program will be able to really define the zinc-rich zones of mineralization on the Mina Chica, Bongarita and Mina Grande sectors of the project.”
Going where no drill has gone before.
The permit allows for drilling of up to three holes per platform with an average drill depth of approximately 25 metres. This average depth shows how close to surface this deposit really is.
By the end of Q2 2018 expect a revised NI 43-101 resource.
Historical Resource Estimate
The historical resource estimate set forth in this news release was prepared by the previous operator, Corianta S.A. in an internal report dated June 13, 2011 on the Bongará Zinc Mine. Although the historical resource estimate used “measure resources”, “indicated resources” and “inferred resources”, the historical estimate was not done in compliance with CIM standards. Zinc One considers these categories relevant as it represents the Zinc One’s main target for exploration and development work on the Bongará Zinc Mine. Zinc One is confirming the reliability of the historical resource estimate and the information supporting the historical resource estimate. The qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Zinc One is not treating these historical estimates as current mineral resources.
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This is not in any way investment advice nor any sort of stock recommendation. Please do your own due diligence and talk to a qualified investment advisor.
The contents of this article are for informational purposes only. Nothing in this article, in any way whatsoever, should be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy, hold or sell any security. Note the inherent risks when investing in microcap stocks. Prior to making any investment decision, we recommend that you seek outside advice from a qualified and registered investment advisor.
Zinc One Resources is not a client nor an advertiser. The author and website owners do own shares in Zinc One at this time.
Submitted December 13, 2017 at 11:33AM by PureNobody76 http://ift.tt/2nZM2Ub
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